Who do I contact if I want to learn more about MPMKS’s services?
What is reinsurance?
Reinsurance is a risk transfer between a primary insurance company to one or more other insurance companies. Most primary companies insure only part of the risk on any given policy, with the amount varying among companies. The remainder of the policy limit is covered by reinsurance entities.
How does MPMKS keep my rates from going up due to the unfavorable claims experience of other policyholders?
Our underwriting committee carefully considers physician-applicants. Our selective underwriting helps us to minimize risk, resulting in the majority of our policyholders falling into the three lowest-risk categories. This practice keeps our claims payout low and our reserves strong.
Do you refuse coverage to any applicants?
Not all doctors who apply for coverage with MPMKS are accepted. We do refuse to cover some doctors whom we consider to be bad risks.
Are physicians involved in settling or defending decisions with MPMKS?
What is tail coverage?
Tail coverage is an extension to a policy that safeguards against claims made after a physician retires or when a physician’s current insurance carrier is different from the one used at the time of the malpractice complaint. Tail rates and terms differ.
Are MPMKS’s premiums different for the various medical specialties?
Yes, rates are based on a physician’s chosen field of expertise and training, as well as claims experience.
Management and Governance
What kinds of expertise do you have access to?
To ensure that we’re following best practices in all disciplines, we’ve outsourced professional services to firms that represent the best of the best in their respective fields.
Because we’ve adopted an outsourced business model, there are no corporate layers within MPMKS. Our overhead is lower, and our management staff is dedicated to giving physicians the peace of mind to focus on their practice.
For purposes of defending a medical malpractice claim that may be filed against me in the future, how long must I maintain a patient’s medical records?
If you are currently aware of a claim for medical malpractice, do not destroy or discard any records without approval of the Company and its defense counsel. In all other cases, then we recommend retaining all medical records and bills for a minimum of eleven (11) years from the date of the last service provided for a patient, except in cases of minor patients in which case the records should be kept until the later of: the minor’s twenty-first (21st) birthday or eleven (11) years after the date of the last service.
Please consult your personal/corporate counsel for possible longer retention recommendations based on your particular situation.